NewsMan
29-11-2003, 08:20 AM
<SNIP>
.....although Mr Stokes confirmed he was spending up to $12 million a year
fighting Foxtel owners Telstra, News Corp and Publishing and Broadcasting
Ltd in the courts for allegedly colluding to win sports broadcasting rights.
Mr Stokes was similarly combative when asked about new chief executive David
Leckie's swag of options with "badly watered down" performance hurdles. He
said the options were issued to Mr Leckie in April when Seven's share price
was under $4. The stock closed 8¢ lower at $5.28 yesterday.
"I get a little angry," he said. "We made this statement six months ago. I
got not one letter from any shareholder, not one phone call from any
shareholder, not one piece of communication from anybody saying they didn't
like this."
Mr Stokes also brushed aside concerns that Seven's $275 million share
buyback was a way of increasing his 37 per cent stake, pointing out the
motion was approved by the vast majority of shareholders.
While shareholders were silent over the network's lagging ratings and share
price in recent months, Mr Leckie described advertising revenue as strong
but stopped short of making any revenue forecasts. "We have experienced some
double digit-growth months," he said......
--
Details:
http://www.theage.com.au/articles/2003/11/28/1069825988602.html
More news:
http://www.auspaytv.com.au/forums/ipdl.php
***
On cable TV they have a weather channel - 24 hours of weather. We had
something like that where I grew up. We called it a window.
-- Dan Spencer
.....although Mr Stokes confirmed he was spending up to $12 million a year
fighting Foxtel owners Telstra, News Corp and Publishing and Broadcasting
Ltd in the courts for allegedly colluding to win sports broadcasting rights.
Mr Stokes was similarly combative when asked about new chief executive David
Leckie's swag of options with "badly watered down" performance hurdles. He
said the options were issued to Mr Leckie in April when Seven's share price
was under $4. The stock closed 8¢ lower at $5.28 yesterday.
"I get a little angry," he said. "We made this statement six months ago. I
got not one letter from any shareholder, not one phone call from any
shareholder, not one piece of communication from anybody saying they didn't
like this."
Mr Stokes also brushed aside concerns that Seven's $275 million share
buyback was a way of increasing his 37 per cent stake, pointing out the
motion was approved by the vast majority of shareholders.
While shareholders were silent over the network's lagging ratings and share
price in recent months, Mr Leckie described advertising revenue as strong
but stopped short of making any revenue forecasts. "We have experienced some
double digit-growth months," he said......
--
Details:
http://www.theage.com.au/articles/2003/11/28/1069825988602.html
More news:
http://www.auspaytv.com.au/forums/ipdl.php
***
On cable TV they have a weather channel - 24 hours of weather. We had
something like that where I grew up. We called it a window.
-- Dan Spencer